Manager Operational Risk Management

2 weeks ago


Toronto, Canada Canada Life Assurance Company Full time

**Job Description**:

- Support the Director and team in developing, documenting and implementing risk and control programs including but not limited to Risk and Control Assessment (RCA), Risk Function Indicators (RFIs), Scenario Analysis, as well as supporting work to develop frameworks for risk programs including, but not limited to supplier risk and operational resilience
- Support the Director and team in developing, executing and providing oversight on assigned risk and control programs processes including but not limited to Risk and Control Assessment (RCA), Risk Function Indicators (RFIs), Scenario Analysis, Internal Events, as well as supporting the ongoing implementation of the GRC tool.
- Analyze risk and control topics that are identified through ORM processes to identify trends, significant risks, and to support successful remediation.
- Facilitate and participate in due diligence reviews, regular and ad hoc operational risk management activities and other 2nd Line of Defense meetings as required.

**What you will do**

**Develop, execute and manage enterprise Operational Risk and Control identification and measurement processes**:

- Support the Director to develop, implement and continuously improve defined ORM programs.
- Design, implement, monitor and provide ongoing support of processes and procedures, guidelines, tools, templates, training and other supports required for managing Operational Risk across the enterprise.
- Serve as a Subject Matter Expert (SME) on the elements of the Operational Risk Framework and Program.

**Provide management, monitoring and oversight of the operational risk and control environment**:

- Ensure the Operational Risk Framework and associated ORM policies are being consistently applied and executed in compliance with enterprise standards.
- Provide challenge as a key contributor in the second line of defense regarding material risks identified by 1st Line of Defense (business units).
- Collect data and report at a consolidated Canada level on defined ORM programs, including RCA, Risk Events, RFIs, and Scenarios, distilling them into meaningful insights for senior management that support action and decision making.
- Monitor risk and control action plans to ensure that actions are effective in remediating the issues and are being timely executed.
- Conduct enterprise-level activities to determine the effectiveness of internal controls for mitigating key risks, support the identification of control enhancements in end-to-end processes, recommend remedial actions, and share insights and best practices with relevant business units as a proactive measure to reduce the likelihood and impact of future risk events.
- Facilitate Canada ORM-led stakeholder’s meetings, document Minutes and Action Plans and monitor execution of action plans.
- Develop methodologies to analyze Operational Risk data and strengthen monitoring and oversight of Operational Risks.

**Contribute as a key member of the ORM team in ensuring the group adds value to the enterprise while operating efficiently and effectively**:

- Build effective relationships within the team and with stakeholders across the enterprise.
- Encourage new ideas and innovative approaches and actively share knowledge and experience to enhance the development of the team and its expertise.
- Project manage ORM activities to manage an overall time sensitive production schedule and process for the recurring activities within the department
- Develop and implement metrics to assess and monitor the effectiveness of Operational Risk programs and processes, including internal team processes.
- Support the department in preparation of internal and/or external audit and regulatory reviews.
- Support other projects and activities as required

**Promote a strong operational risk management culture and capability.**
- Participate in developing, scheduling and facilitating workshops with 1st and 2nd Line of Defense to support strong awareness and capability for executing RCA, RFIs, Scenario Analysis and other ORM strategy and framework programs.
- Support the awareness of Canada Life’s risk-taking philosophy, risk appetite, policy, authority structure, procedures and processes to ensure a common understanding of risk practices and risk exposures.

**What you will bring**

**Knowledge**
- Experience in a 2nd Line of Defense operational risk management function in Insurance and/or Banking.
- Experience in roles responsible for building and implementing operational risk and control frameworks and methodologies.
- Direct experience managing RCA, RFIs, Scenario Analysis, and Risk Events programs.
- Direct experience managing specific Operational Risks such as Supplier risk
- Demonstrated ability to aggregate and analyze quantitative and qualitative data.

**Skills**
- Proven ability to be effective in a fast-paced, ambiguous and changing environment.
- Able to balance regulatory concerns, cost efficiency, program effectiveness and cus


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